Reliance industries has once again demonstrated its unrivalled prowess by securing the top position in the list of the country's 500 most valuable private companies. The report, jointly prepared by Burgundy Pvt., Axis Bank's wealth management arm, and Hurun India, is based on the market values of these companies as of october 2023.
 Notably, at the time of the report's preparation, reliance industries boasted a market value of Rs. 15.6 lakh crore, a figure that has now surged to Rs. 19.65 lakh crore. Trailing behind, tcs claimed the second position with a market value of Rs. 12.64 lakh crore during the report's compilation, which has since risen to Rs. 14.90 lakh crore. hdfc bank secured the third spot with a market value of Rs. 11.3 lakh crore, although the current value stands at Rs. 10.55 lakh crore due to recent declines in its share price.
The cumulative market value of the top 500 private companies is estimated at Rs. 231 lakh crore, surpassing the combined GDPs of Saudi Arabia, Switzerland, and Singapore. These companies, registering sales of Rs. 79 lakh crore at a growth rate of 13 percent, have significantly contributed to employment, providing jobs to 70 lakh individuals. Remarkably, these organizations represent 1.3 percent of the total employed workforce in the country.

Furthermore, among the top 500 companies, 52 boast histories of less than a decade, while EID Parry, with a remarkable 235-year history, also stands tall in the prestigious list. Hyderabad, with 29 companies, contributes significantly to this roster, reflecting a 22 percent increase in market value compared to the previous year. The diverse sectors represented among these companies, from financial services to healthcare and consumer goods, showcase the multifaceted strength of India's private sector.
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Sindujaa D N

13/02/2024 11:01 PM